Nancy Pelosi is right on the debt ceiling crisis (sort of)!

Today, Nancy Pelosi made a speech attacking Republicans, accusing them of looking to destroy government. However, in the video below, Nancy actually makes one statement that is actually spot on.

She states that the Republicans ‘do not like government’. I think she is right – our government is too big, too intrusive, and certainly spends way too much money. This whole debt ceiling crisis should simply come down to this fact – when 50% of our country pays zero in income taxes, and the top 1% pay nearly 50%, where is the shared sacrifice.

I welcome the politician who has the gumption to state the obivous – we are all in this together, everyone should pay at least 5% of their income in the form of taxes. If this were to happen, you can be sure the democrats would be against it, because this 50% are accustomed to getting a free ride, and if they actually had to participate in funding government, we would all find religion in terms of what our government is actually spending money on. And there would be greater scrutiny and involvement of the public.

It is time for all of us to remember that we still, ultimately, control the levels of power in this country through the voting booth. It is time to elect adults in the room, who realize that we cannot put our heads in the sand and ignore that we have a major spending problem.

For all the talk of market bubbles, our government spending might be very close to being exposed as the biggest bubble in history – unsustainable, and in dire need for a recalibration.

Finally, one thing that should be very clear from this whole debate is that, ultimately, the word of the government is fleeting. Sure we will pay our bills (hopefully) but, when you rely on government, are you really in control of your own destiny?